Lake Renown Procurement

Published: 2021-06-29 06:35:05
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Category: Business

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A procurement strategy defines whether a centralized or decentralized procurement process is appropriate. After the team selects the process, how does the Project Manager ensure clear demarcation of buying authority? What are the conditions that clearly lead to the development of the Request for Proposal (RFP), followed by source selection from an approved bidders list? With completion of the RFP, what are the steps the project team needs to take that lead to contract award?


The Lake Renown project will take advantage of both centralized and decentralized procurement stratigies. These initiatives put Lake Renown procurement at the heart of best practices and continuous improvement. The Project and it's sponsor, Jan Palmen, are committed to investing in the local economy as permitted by govrnmrnt regulations and applicable law. Lake Renown is committed to a comprehensive procurement program focused on supporting the best quality and scheduling standards.
Team leads are authorized to procure any items that are considered consumable with a cost of less than $5,000. per purchase with a limit of $30,000. per month. Any purchase(s) that exceeds the $5,000. limit or a purchase that elevates the total expenditures above $30,000. in a 30 day period will need prior approval of the Project Manager or his designee.

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